New Delhi, June 16 -- With a myriad personal loan options to choose from, taking a loan is easier than it appears. There are several reasons for relying on a personal loan. Sometimes it could be for an emergency while on other occasions, one could take a loan for discretionary reasons such as buying a luxury or going on a holiday. While emergencies are unavoidable, discretionary spending can be postponed if not avoided.

There are certain expenses which are neither urgent nor completely indulgent. For instance, spending on home renovation.

Is this advisable to spend thepersonal loan money mounted on home renovation? Or should one take a personal loan in the first place for spending onhome renovation? It is a nuanced question and can turn...